Net Element (NASDAQ: NETE) this morning announced the acquisition of certain transactional services portfolio (cash flow) assets from Argus Merchant Services, LLC and Treasury Payments, LLC. The global technology and value-added solutions group, through its subsidiary Unified Portfolio Acquisitions, acquired the assets for a total of $1.42 million. The cash flow assets are anticipated to produce more than $4 million in gross profits over the next four years, with continued profits to follow. Argus’ total billing commitment to NETE’s Unified Payments subsidiary is projected to create more than $19 million in gross margin over the next five years. “The transactional services portfolio acquisition takes our relationship with Argus and Treasury to the next level. This acquisition will build real value for the future of our respective companies,” Vlad Sadovskiy, president of integrated payments for Net Element stated in the news release. “We are excited to see a significant commitment from Argus which is expected to add over $19 million in gross margin to the company over the next 5 years.”
To view the full press release, visit http://nnw.fm/tKPI6
About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the U.S. and selected emerging markets. In the U.S., it aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, the company’s cloud based, restaurant and retail point-of-sale solution. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest growing companies in North America on Deloitte’s 2017 Technology Fast 500. In 2017, Net Element was recognized by South Florida Business Journal’s as one of 2016’s fastest growing technology companies. Further information is available at www.NetElement.com.
More from NetworkNewsBreaks
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive instant SMS alerts, text STOCKS to 77948
For more information please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com